Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $9.67 million capped leveraged buffered basket-linked notes
By Wendy Van Sickle
Columbus, Ohio, April 22 – Morgan Stanley Finance LLC priced $9.67 million of 0% capped leveraged buffered basket-linked notes due Aug. 29, 2025 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket includes the Euro Stoxx 50 index with a 36% weight, the Tokyo Stock Price index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with an 9% weight.
The payout at maturity will be par plus 250% of any basket gain, capped at 27.625%.
Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Capped leveraged buffered basket-linked notes
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| Underlying indexes: | Euro Stoxx 50 (36% weight), Tokyo Stock Price (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
|
| Amount: | $9,673,000
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| Maturity: | Aug. 29, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 250% of any basket gain, subject to a maximum payout of par plus 27.625%; par if basket falls by up to 10%; otherwise, 1.1111% loss for every 1% drop beyond 10%
|
| Initial levels: | 4,916.99 for Stoxx, 2,697.11 for Tokyo, 7,820.36 for FTSE, 11,196.67 for Swiss, 7,612.494 for S&P/ASX
|
| Buffer level: | 90% of initial basket level
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| Pricing date: | April 16
|
| Settlement date: | April 23
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
|
| Cusip: | 61776LUM7
|
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